Insider Selling: Global Business Travel Group (NYSE:GBTG) CEO Sells 574,317 Shares of Stock

Global Business Travel Group, Inc. (NYSE:GBTG) CEO Paul Abbott sold 574,317 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $9.35, for a total transaction of $5,369,863.95. Following the transaction, the chief executive officer owned 2,582,911 shares in the company, valued at approximately $24,150,217.85. The trade was a 18.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Global Business Travel Group Stock Performance

GBTG stock traded down $0.01 during trading hours on Monday, reaching $9.36. The stock had a trading volume of 930,335 shares, compared to its average volume of 2,818,420. The stock has a 50-day simple moving average of $7.87 and a 200 day simple moving average of $7.11. Global Business Travel Group, Inc. has a fifty-two week low of $4.95 and a fifty-two week high of $9.54. The stock has a market capitalization of $4.88 billion, a PE ratio of 55.03 and a beta of 0.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.18 and a quick ratio of 1.18.

Global Business Travel Group (NYSE:GBTG) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. Global Business Travel Group had a net margin of 2.93% and a return on equity of 2.51%. The company had revenue of $840.00 million during the quarter, compared to the consensus estimate of $814.55 million. The company’s revenue for the quarter was up 35.3% on a year-over-year basis. Analysts predict that Global Business Travel Group, Inc. will post 0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Global Business Travel Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Landscape Capital Management L.L.C. grew its position in shares of Global Business Travel Group by 17.1% in the fourth quarter. Landscape Capital Management L.L.C. now owns 14,567 shares of the company’s stock valued at $111,000 after purchasing an additional 2,125 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Global Business Travel Group by 2.5% in the fourth quarter. California State Teachers Retirement System now owns 88,896 shares of the company’s stock valued at $680,000 after purchasing an additional 2,143 shares during the last quarter. State of Wyoming grew its position in shares of Global Business Travel Group by 6.5% in the second quarter. State of Wyoming now owns 40,964 shares of the company’s stock valued at $258,000 after purchasing an additional 2,504 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Global Business Travel Group by 28.2% in the fourth quarter. Russell Investments Group Ltd. now owns 11,573 shares of the company’s stock valued at $89,000 after purchasing an additional 2,549 shares during the last quarter. Finally, Xponance LLC grew its position in shares of Global Business Travel Group by 29.2% in the fourth quarter. Xponance LLC now owns 13,416 shares of the company’s stock valued at $103,000 after purchasing an additional 3,032 shares during the last quarter. Institutional investors and hedge funds own 82.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GBTG. Weiss Ratings raised Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Morgan Stanley decreased their target price on Global Business Travel Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Monday, March 9th. Wall Street Zen cut Global Business Travel Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Deutsche Bank Aktiengesellschaft set a $8.20 price target on Global Business Travel Group in a report on Wednesday, March 11th. Finally, UBS Group decreased their price objective on shares of Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.90.

About Global Business Travel Group

Global Business Travel Group (NYSE: GBTG), formerly known as American Express Global Business Travel, is a provider of end-to-end corporate travel management solutions. The company helps organizations plan, book and manage business travel, meetings and events through an integrated suite of services. Its offerings include traveller support, expense management, virtual and in-person meeting services, data analytics and duty-of-care solutions tailored to enterprise customers.

Operating under a global network of offices and digital platforms, Global Business Travel Group serves clients across the Americas, EMEA and Asia Pacific.